Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Components of Income Tax Expense (Benefit)


	Years ended December 31,
	2015		2014	2013
	amounts in millions
Current:
Federal	$	(17)	18	(45)
State and local		(17)	7	3
Foreign		(1)	—	5
		(35)	25	(37)
Deferred:
Federal		(145)	(103)	165
State and local		(30)	12	7
Foreign		—	—	—
		(175)	(91)	172
Income tax benefit (expense)	$	(210)	(66)	135

Schedule of Effective Income Tax Rate Reconciliation


	Years ended December 31,
	2015		2014	2013
	amounts in millions
Computed expected tax benefit (expense)	$	(160)	(161)	(3,100)
Non-taxable gain on book consolidation of SIRIUS XM		—	—	3,054
Liquidation of consolidated subsidiaries		—	107	—
Non-taxable exchange of subsidiary		—	—	174
Dividends received deductions		2	99	46
Sale of subsidiary shares to subsidiary treated as a dividend for tax		—	(123)	(56)
State and local income taxes, net of federal income taxes		(1)	(4)	11
Change in valuation allowance affecting tax expense		(44)	(2)	9
Recognition of tax benefits not previously recognized, net		—	11	—
Other, net		(7)	7	(3)
Income tax benefit (expense)	$	(210)	(66)	135

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities are presented below:


	December 31,
	2015		2014
	amounts in millions
Deferred tax assets:
Net operating and capital loss carryforwards	$	1,795	2,119
Accrued stock compensation		140	127
Other accrued liabilities		76	88
Deferred revenue		729	678
Other future deductible amounts		7	10
Deferred tax assets		2,747	3,022
Valuation allowance		(49)	(5)
Net deferred tax assets		2,698	3,017
Deferred tax liabilities:
Investments		67	229
Intangible assets		3,955	3,991
Discount on debt		30	—
Other		313	304
Deferred tax liabilities		4,365	4,524
Net deferred tax liabilities	$	1,667	1,507

Summary of Income Tax Contingencies


	December 31,
	2015		2014	2013
	amounts in millions
Balance at beginning of year	$	2	30	29
Reductions for tax positions of prior years		—	(11)	—
Lapse in the statute of limitations		—	(17)	—
Increase in tax positions from prior years		252	—	—
Increase in tax positions from acquisition		—	—	1
Balance at end of year	$	254	2	30